IT department finds tax evasion of Rs 350 crore! Rs 5 crore cash found from Taapsee

Mumbai : The Income Tax Department is raiding and investigating some people and companies associated with the film industry, including Bollywood actress Taapsee Pannu and film director Anurag Kashyap. The Income Tax Department said in its statement released on Thursday that during the search, there has been evidence of large scale misappropriation in the income and share of these production houses.

According to sources, the department said that the Income Tax Department has come to know about the tax irregularities of Rs 350 crore. Company officials have not been able to give any answer about Rs 350 crore. On the other hand, a cash receipt recovery of 5 crore has been done in the name of Taapsee Pannu, whose investigation is going on.

The Income Tax Department said that from March 3 (Wednesday), the premises of 2 big film production houses, one actress and 2 talent management company of Mumbai were being raided. These raids are going on in Mumbai, Delhi, Pune and Hyderabad. A total of 28 places including offices and accommodation are being raided.

Sources associated with the Income Tax Department said that there are two separate cases going on. One is against the shareholders of Phantom Films and the other is against Taapsee Pannu. Taapsee Pannu and her company are suspected of income tax evasion of about Rs 25 crore. Tapasi took cash money of around 5 crore rupees. Her company is also involved in income tax evasion. Their agreement is also on the radar of IT.

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